Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1887-06-03
THE MONIED MISTAKE.

dealt with is the monied mistake OF the
world. Recognition of this mistake is
being daily forced, and self-interest is
loudly demanding that amends be made.
But a false step is far more easily taken
than retrieved, and the nations who have
found only disappointment in the single
gold standard, cannot at once extricate
themselves from their difficulties and do
an act of financial justice, by restoring
silver to its just, rightful and natural
place.
But that the world will do justice to.
itself and silver at the earliest possible
moment, is growing more and more APP
parent every day. Dazzled by the false
glitter of gold, the world has, by series
Of deplorable financial blunders, relegated
silver to the back ground. These blun-
ders are now generally recognized, and
the blunderers are Fastening to retrieve
them.
When Germany declared against BIZ
metallism, threw her silver into the
worlds market, and invested in $780,
100000 of gold, she struck a staggering
blow at the system of universal
commerce. She committed blunder
which is now plain to her ablest fnan
ciers and economists, and which they
now ruefully realize. Prince Bismarck
himself has no hesitation in saying that
he has made most grievous financial
mistake. The great German Chancellor's
confession has only the merit of frank
ness, for that Germany has indeed made
grievous financial mistake, is already
proven to the world by that most conclu-
sive and convincing of all testimony-the
testimony Of results.
The suspension of the monetary law
in France in 1873 consequent upon Ger
many's action, had most deplorable
effect in that country. France, too, is
beginning to see the true light through
the medium OF disastrous experience, and
is rapidly moving into position as one OF
the greatest of silver's champions.
Even stubborn and sullen England is
recognizing and yielding to the inevitable.
Ten or twelve years ago John Bulls
below against the white metal was borne
abroad on every English breeze. 1t
was the burden of the English financial
fog-horn. But though that fog-horn is
sounding as loud and long as usual, there
is now many ringing silver notes ming
ling with its discordant and aggressive
bray.
Prominent English fnanciers are con-
tributing numerous articles to the lead
ing English magazines in favor of BIZ
metallism. A Royal Commission was
appointed toward the close of last year,
"to enquire into the recent changes in
the relative value OF the precious
metals, and to ascertain if such
changes were causing permanent and
important evils and inconvenience,
and if so, to inquire whether it was posi-
bic to suggest any remedies within the
power Of the Legislature or the Govern
ment by itself, or in concert with other
powers, which would be elfectual in re-
lieving or palliating such evils and incon-
veniencies." This Royal Commission
made the important inquiry assigned 10
it, and reported that it found existing the
evils and inconveniencies referred TO,
and that these evils and inconveniencies
were due to the depreciation of silver,
consequent upon uafriendly legislation.
When the English mind is convinced,
great must be the powers of conviction.
But while the National English mind
is convinced, the English Government,
with characteristic obstinacy refuses to
act. Germany and France stand ready
to-day to restore silver, il England will
assent. John Bull can neither be coaxed
nor driven. Time therefore is now the
great ally of silver. Yet a few years
and the natural course of events will
favorably adjust themselves, and silver
will come to its own again.
When this rightful restoration takes
place, no Nation can point to a brighter
silver record no Nation will give silver
a more cordial and loyal greeting than
the United States. Here, naturally in
its chosen home, has silver found its
most earnest and determined partisans.
Here has the iercest conflict been
waged. Here will final victory be most
enthusiastically hailed.